Hong Kong businesses are expected to feel the bite from Washington’s 34 per cent reciprocal tariff, with the United States being the city’s second-largest export market, accounting for US$37.9 billion in merchandise in 2024. Beijing, meanwhile, has also hit back with a 34 per cent tariff on imported American goods in addition to existing duties,…
The United States markets are reeling from the shock of the reciprocal tariffs announced by President Trump on April 2. The markets are reportedly going through their worst crash since Covid, with Wall Street going into a free fall for the second day straight. The losses caused by the market plunge following Donald Trump’s ‘Liberation…
Hello readers! Volatility across financial markets jumped on Friday, with Wall Street’s top ‘fear gauge’ soaring to an eight-month high while other market indicators showed growing investor concerns about the ripple effect of President Donald Trump’s sweeping levies. Meanwhile Trump said that big business is not worried about tariffs because they know they are here…
Washington: US President Donald Trump on Wednesday imposed sweeping tariffs that target key economic partners, escalating global trade tensions. China faces a 34 per cent tariff, the European Union 20 per cent, and India a 26 per cent “discounted reciprocal tariff.” The affected sectors span automobiles, dairy, steel and electronics. Trump’s trade battles are not…
Trump has labelled April 2 “Liberation Day”, insisting that the levies will free the United States from its reliance on foreign goods. Here are 10 points on this big story: On Sunday, the US president appeared to substantially expand his tariff plans, insisting that “all countries” would be targeted. “You would start with all countries,…
Supply Lines is a daily newsletter that tracks global trade. . President Donald Trump will announce his reciprocal tariff push on Wednesday during an event in the White House Rose Garden, his top spokeswoman said. White House Press Secretary Karoline Leavitt said Monday the announcement would feature “country-based” tariffs. She said the president is also “committed…
US president Donald Trump The US President Donald Trump announced that his upcoming reciprocal tariffs will affect all countries globally, rather than being limited to 10-15 nations with significant trade deficits.Trump plans to reveal an extensive tariff scheme on Wednesday, which he refers to as “Liberation Day.” Previously, he has implemented duties on aluminium, steel,…
Topline Global stock markets and U.S. futures tumbled on Monday as investors around the world braced for President Donald Trump’s plans to impose sweeping reciprocal tariffs against “all countries” starting April 2—a day he and his allies have dubbed “Liberation Day.” US President Donald Trump speaks to members of the press while returning to Washington,…
President Donald Trump on Friday said he was open to negotiating separate agreements with countries seeking to avoid US tariffs. However, he said that such deals would only be considered after his administration enforces reciprocal tariffs on April 2. US President Donald Trump waves as he walks before departing for Florida from the South Lawn…
Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. China hits back at Trump with reciprocal tariffs, sanctions of US firms China has revealed the details of its response to new tariffs from the United States on its…